How Machine Learning Benefits Corporate Travel
Machine learning is revolutionizing what it means to book and manage corporate travel. Corporate travel management programs built on the latest technology deliver unprecedented results.
Thanks to machine learning that’s available today in the more advanced travel platforms on the market, travelers’ preferences can be matched with inventory that meets company policy guidelines. This creates a clear foundation for more effective travel programs, more control over travel spend, and more visibility into what employees are booking.
Travelers reap the benefits with faster, smarter booking, and instant support. And with machine learning-driven technology, traveler booking time is reduced from an industry average of 60 minutes down to just six with TripActions.
It’s not hard to see what led to this revolution. The goals of the travel program were woefully not met with outdated technology. Employees booked out of policy and corporate leaders didn’t understand unavoidable booking discrepancies. Corporate travel managers had gotten tired and frustrated with the inefficient and clunky legacy tools that just don’t cut it anymore.
Technology sat at the center of these challenges--just as modern technology now sits at the center of the solution. Outdated technology served a specific dataset based on a specific search, such as hotels with vacancies in a certain city, and that dataset alone. It was hard to keep track of travelers and even harder to optimize systems to work for both enterprises and their traveling employees.
Businesses and road warriors deserve better.
Enter machine learning.
Machine learning allows travel tools to adapt and adjust to individual traveler selections and preferences. These tools continuously improve the search experience based on what travelers booked in the past. They have the potential to recognize roadblocks in the booking process and bring in support, either through a chatbot or customer service representative.
Why does machine learning matter?
If you’re not familiar with the topic, it can be easy to brush off machine learning as a buzzword that promises a sci-fi style future. But machine learning is a technology that’s already changing how people interact with the world on a daily basis.
Machine learning is a subset of artificial intelligence which allows machines to analyze huge amounts of data, look for patterns, and then make decisions based on those patterns — without any human intervention and in a matter of seconds.
The power of its capabilities grow every day, and leaders who recognize its importance will play an important role in driving growth and innovation at every level of their organization.
Corporate travel managers can step outside of their daily roles to understand how they can harness this intelligence to improve the travel experience for employees and save their company money with more effective policy parameters.
In fact, machine learning improves the booking experience for travelers by serving more relevant search results and identifying when extra support is needed. It makes the process as efficient and accurate as possible, by predicting within 30 seconds what travelers are going to book with 90%+ accuracy.
Machine learning-powered corporate travel booking solutions can also predict which flights or hotels a particular traveler is most likely to book. It balances those personalized results with median price per booking — based on unique search variables such as flight time or lodging location — to ensure bookings remain in policy. These dynamic policies are tailored to put cost-conscious guardrails around each individual search. Not only is there unprecedented visibility into travel spend, but a proactive approach to keeping travelers within the company’s guidelines.
What does machine learning do for me?
Corporate travel managers play a critical role in driving a corporation’s culture, growth, and bottom line. It’s hard to manage all travelers’ decisions, and by using technology to predict relevant and in-policy choices, managers’ daily task load is drastically lowered.
As a corporate travel manager, you are tasked with supporting travelers and serving a company’s corporate and financial goals. Understanding the power of machine learning empowers you to become a leader within your organization — while championing travelers’ rights.
Support is another critical role expected of corporate travel managers. But it is almost impossible to anticipate travelers’ needs whether it is a booking question or being sidetracked by a last-minute flight change.
Machine learning gives managers eyes and ears into every situation, before the traveler even looks for back-up. For example, the technology can recognize use patterns and proactively notify a human support agent to send a message and check in on the traveler’s booking process. It becomes aware of delays and cancellations as soon as they occur, and immediately begins searching for and rebooking alternative options. TripActions’ proprietary chat app also provides 24/7/365 support from booking until travelers arrive safely at home following a successful work trip.
It’s crucial for innovative, growth-focused organizations to recognize the opportunities for AI in corporate travel. Download the TripActions ebook “Behind the Buzzwords: How Machine Learning is Improving Corporate Travel” and learn more about how machine learning is revolutionizing corporate travel.